Financial / Results – Page 88
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NewsAgeas to provide capacity for Victor Insurance UK
The five-year agreement will support writing £60m GWP
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NewsBy Miles unveils post-funding growth plans as policy sales soar
Pay-by-mile insurtech, By Miles is expanding following its recent £15m Series B funding round, with business booming during the lockdown
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News AnalysisThe Briefing - Insurtech – Surviving Covid-19, government schemes for insurtechs ‘not all it’s cracked up to be’
The government has been instrumental in supporting businesses during the Covid-19 pandemic, however many insurtechs have found that these schemes incur pitfalls and strict eligibility criteria that does not work in their favour
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Online onlyPremfina boss in incredible effort with covid art auction fundraise
Premfina Bundeep Rangar in huge effort which could raise up to £1.5m to support covid causes
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NewsCredit rating agency says insurers’ credit quality could be affected by BI court cases
The firm’s latest report stressed ‘the impact of potential liability exposure, particularly in relation to event cancellation and BI claims’ linked to the coronavirus pandemic
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News AnalysisBiba denies broker commission is “huge conflict of interest”
Meanwhile others in the industry have also defended brokers
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IT InterviewIndustry set to grow post Covid-19 due to ‘greater appreciation’ of insurance
Following the worst of the Covid-19 pandemic, commercial and financial technology firm FIS believes insurers could see a “natural growth” in their business if they respond to consumer demands for more mainstream pandemic coverage.
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NewsAxa to pay some French restaurant business interruption claims after losing court case
Case could set a precedent for similar cases against insurers in the UK
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NewsRestaurant owner slams ‘unacceptable’ Covid payout refusal
Hampshire-based business has joined the Hospitality Insurance Group Action in a bid to force an insurance payment
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NewsInsurtech funding drops by more than half during first quarter
Covid-19 pressures seen as the primary reason for the drop
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NewsBeer and pub trade bodies slam ‘collective failure of insurers’ during Covid-19 crisis
Four trade associations pen open letter to the ABI in order to obtain a meeting with insurer bosses
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NewsAviva estimates Covid-19 impact on specialist schemes and brokers as related BI claims reach £200m
Insurer Aviva has estimated that business interruption (BI) claims related to the Covid-19 pandemic will amount to around £200m across its global general insurance portfolio, net of reinsurance.
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NewsCustomers need brokers “more than ever” says Ross after Ardonagh reports uptick in EBITDA despite coronavirus crisis
The broker attributed this growth to “accretive investments in growth initiatives, including producer hires, bolt-on acquisitions, and the continued delivery of cost savings”.
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NewsAviva names new chairman
Aviva has appointed financial services veteran George Culmer as its new non-executive chairman, succeeding Adrian Montague who steps down…
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NewsBeazley shares up 13% after £247m capital raise
The insurer’s share price responded well to the news, at one point rising as much as 13% on yesterday’s closing price.
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NewsInsurers have ‘adequate buffer’ of capital to withstand pandemic shocks says credit rating agency
The agency’s report further highlighted reputational risk as a potential problem
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NewsAviva and Zurich UK among insurers contributing to new industry-wide coronavirus support fund
The fund is supported by members from the ABI, Biba, Lloyd’s and the London Market Group
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NewsCovid-19 heralds hardest of hard markets
Few classes are expected to emerge unscathed as markets harden in the wake of coronavirus
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NewsFCA orders insurers to support customers in coronavirus-related financial hardship
The range of measures proposed by the regulator are effective from 18 May 2020
